The Nigerian Shippers’ Council (NSC) has pegged tariff adjustment by the terminal operators and shipping companies operating in the country between 10 and 20 per cent.

The Executive Secretary of the NSC, Dr Pius Akutah, stated this while defending the Council’s recent tariff decisions and regulatory interventions, insisting that all actions taken by the agency are guided strictly by law, due process, and extensive stakeholder consultations rather than external pressure.

Akutah explained that tariff regulation is a core statutory responsibility of the Council under Sections 5 and 6 of the Port Economic Regulations 2025, stressing that the NSC acted within its legal mandate in approving adjustments after years of sustained pressure from service providers who had repeatedly demanded significant increases due to rising operational costs.

He said the Council deliberately adopted a cautious approach given that over 80 per cent of Nigeria’s trade is dependent on maritime transport, warning that excessive tariff hikes could distort competitiveness with immediate ripple effects across the economy.

Akutah noted that for over two and a half years, no tariff review had been implemented despite high inflation, which increased the cost of operations and multiple requests from industry players, some of which ranged from 150 per cent and 300 per cent.

He said the Council had to carefully moderate the tariff review to prevent wider economic disruption by approving a structured adjustment framework of about 35 per cent, which was designed as a flexible band rather than a fixed rate.

The Council boss explained that operators were allowed to implement within an approved range, between 10 and 20 per cent, depending on their operational realities, while cautioning that any over-implementation would distort competitiveness in the sector.

Akutah maintained that tariff adjustment in the maritime sector cannot be treated as a profit-driven exercise but as part of broader sectoral development and investment sustainability.

He added that any decision must consider key macroeconomic indicators such as inflation, gross domestic product (GDP) performance and the potential impact on national trade.

Akutah emphasised that the Council’s role is to maintain equilibrium in the industry, stressing that the collapse of any segment of the value chain would ultimately affect national trade.